Oil Subsidies Will Likely Survive Tax Plan's Shift To Green

Law360, New York (February 22, 2012, 7:47 PM EST) -- President Obama's tax reform proposal, unveiled Wednesday, will encourage investment in clean energy manufacturing, but its attempt to shift energy priorities by slashing billions of dollars in tax breaks for oil and gas companies is more likely to score political points than become law, experts said.

Treasury Secretary Timothy Geithner said Wednesday that broad reforms were needed to streamline and update U.S. tax policies, outlining a plan to reduce the statutory corporate tax rate from 35 percent to 28 percent while eliminating loopholes and tax breaks....
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